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Research methodology refers to the systematic procedures for investigating research problems. Research methodology is the logic of scientific investigation, that study the system of research procedures and techniques. Also, it is a procedural plan for collecting and analyzing of data necessary to assist in solving the current problems in such a way that the differences between the cost of obtaining various levels accuracy and the expected value of the information associated with such level is maximized.
Since every research work or project conducted has a specific frame work for controlling data collection. This chapter will provide the research instrument used. The validity and reliability of this research.
The purpose of this research work as stated in chapter one of this write up, to assist any reader to know the evaluation of small scale business development in Nigeria economy and the roles it plays. For the purpose of this research work, both primary and secondary data will be employed in gathering the information required for the study.
- BACKGROUND TO THE STUDY
The Nigeria federal, state and local government have been taking the development of industries as a master of importance. The government is encouraging the establishment of small scale indigenous industries by creating favourable condition to the industrialist especially by granting them short and long term loans. The government also exempts the infant industries from taxation and grant loans to them for further establishment.
In view of the above, it is observed that many industries have been in existence for quite a while. Some of such industries are soap and detergent industry, leather factory, Tailoring, weaving to mention but few. The effort of government in encouraging the citizens of Nigeria to engage upon primitive investment has led to the establishment of many local industries by the people of Nigeria. The government also educates the citizens through social and political means to enhance the nation becoming great through economic self reliance, industrialization that will make Nigeria economy less dependent on foreign Nations. However, all these can only be achieve, if the government will provide some more favorable terms, like provision of more loans, free education and as well as provision of infrastructural facilities to enhance and encourage a large number of small scale industries.
1.2 THE PROBLEM FACING SMALL BUSINESS
In spite of the obvious acknowledgement of small scale business, a review exist and materials revealed that, the sub-sectors, is faced with lots of problems which have greatly reduced the development of small scale business particularly in the development countries
Usman (1989) was very elaborate on his analysis of these problems. Like all others, he recognized the financing problem as being the upper most but he went further to list other important problems of small business.
- Problems of getting organized
- Management problem.
- Marketing problem.
- Financing problem couple with information gap.
- Infrastructural problem
- Problem caused by government action
- Attitude problem.
- OBJECTIVE OF THE STUDY
The small scale business has always played important roles in the sustenance of any economy. The objective of this study will therefore, includes the following.
- To analysis the meaning of small scale and the various role and function it performs in the economy.
- To determine their role in investment appraisal
- To also determine the benefits to individuals in the society.
- IMPORTANCE OF THE STUDY
The result of the study would be of important to the people of Nigeria and to the intending industrialist because the study would reveal various roles and the benefits of small scale business.
The study will also be of importance to resourceful individual or group of people who may be interested in the establishment of small scale business in future. This study would provide information on the role and important of small scale business within the country and as a result, will stimulate and encourage the industrious individual to invest their resources for national growth and development.
- SCOPE OF THE STUDY
The result of the study would be of important to the Nigeria citizen in general because the study will reveal in details the various roles, benefits, advantage as well as amount of capital that one can start scale business with. The research considered small scale industries which are randomly selected. Those to consider for selection must have been in existence for at least five years. This as a result enables the researcher to get the true picture of the problem of the study and not a problem caused as a result of the infancy of industries.
- DEFINITION OF TERMS.
This section attempts to define variable and terms used in the study.
- CAPITAL: The money and all man made aids further production process i.e machine, factory tools, material etc.
- ROLE: This means the part taken by small scale business to contribute to the growth and development of the country .
- INFANT INDUSTRIES: domestic industries that needs protection from foreign competition.
- INDIGENOUS: native industries in a country usually referred to as infant industries.
- TAXATION: the imposing of tax. Is money that must be paid to the government, charge as a proportion of personal income and business profit or added to the cost of some goods and service
- Loans: A sum of money that is lent to a business owner by the government.
- CREDIT SCHEME: plan and design by government to provide short and long term loans to industries.
- PRIMITIVE: The earliest time in history or stages in development.
- INDUSTRIALIZATION: Develop industries in a country or region on a wide scale.
- INFRASTRUCTURAL: The basic facilities in which the commerce of a country depends on e.g. good roads, communication system, pipe borne water etc.
- Investment: the purchase of real or tangible asset such as machines factories stocks of investment that are used to produce goods and service.
- Foreign: having to do with a country or language other than ones own.
- Turnover: the amount of business done in a particular period with a certain amount of capital.